A BUSINESSMAN who nearly destroyed a North-East based company following a £2.5m fraud has been jailed for seven years.

Douglas Brown, 61, was managing director of Palmer UK, in Hartlepool, when he obtained money transfers by deception over an 11-year period.

Brown, of The Green, Houghton-le-Spring, previously admitted 31 charges of deception after siphoning money into his personal bank account from the company.

At Teesside Crown Court today Judge Peter Fox said: "This was a sophisticated and convincing fraud - little short of enormous."

Five charges against his wife, Joan, who was also arrested as part of the two-year probe, were ordered to remain on file.

Full story in tomorrow's The Northern Echo